Exploration and development at the Kerr mine, near Virginiatown, Ont., have enabled Deak Resources (TSE) to upgrade production forecasts for the remainder of 1994.
The mine is now expected to produce 800 tons per day beginning in September, resulting in a positive cash flow and a return to profitability in the last quarter.
Kerr is estimated to contain 4.6 million tons averaging 0.138 oz. gold per ton, which is sufficient for 10 years, based on an average throughput of 1,200 tons per day.
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